FFFA!

It’s that time of the week again…

Friday Free-for-all time!

This is our regular end of the week news round up and open topic discussion thread for the weekend. Here are a few recent links to kick off the chat:

Canadian debt at unsustainable level
Realtors optimistic about 2015
Overly fat debt loads
Not expecting unexpected economic shocks
Oil to affect Calgary prices
Vancouver Island Stats

So what are you seeing out there?

Post your news links, thoughts and anecdotes here and have an excellent weekend!

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@61
Guest
@61

“Easily one of the most wasteful government programs/agencies in the entire country”

Yup, Translink was created by the NDP in 1998. Another sad legacy of the NDP.

These vultures have been trying to raise taxes for 25 years. Once they raise one tax they come back for the next tax increase. We just got a gas tax increase for the Evergreen Line. If the Mayors want more tax revenue for ‘transit’ they should raise property taxes. That way they are accountable to the voters.

Mr. X
Guest
Mr. X

Cantonese is essentially the ebonics of China. The written form is only used things like comics or when someone is being quoted directly.

Guy Smiley
Member
Guy Smiley

Rarely a commenter recently, but still a firm bear. This isn’t RE, but it does affect quality of life in Van.

Please help stop this proposed extra tax to fund the nightmare that is TRANSLINK.

Easily one of the most wasteful government programs/agencies in the entire country, they draw $1.4 billion/year from BC taxpayers and now want you to pay a further .5% to fund their outrageous salaries and shitty decisions (in 2012 TransLink CEO Ian Jarvis made $394,730 for running a government agency with no competition!). Please sign this and pass it on.

http://www.notranslinktax.ca

southseacompany
Member
southseacompany

“Canada’s home prices fall for first time in a year”, Globe & Mail Dec 12

http://www.theglobeandmail.com/report-on-business/economy/canadas-home-prices-fall-for-first-time-in-a-year/article22061271/

“The monthly slump was led by a 1.6-per-cent drop in Halifax, a 1.5-per-cent fall in Quebec City, and a 1-per-cent decline in Montreal. Prices fell 0.7 per cent in Winnipeg, 0.6 per cent in Ottawa and 0.3 per cent in Toronto, Calgary and Victoria.”

“Home prices were flat in Hamilton and Vancouver, and they rose in only one market, a 1.1-per-cent increase in Edmonton.”

Marco
Guest
Marco

This just in: Granite is finally out. Thank you, never liked the look.

http://dishwashers.reviewed.com/features/goodbye-granite-the-6-hottest-countertop-finishes.

Realtors will have to omit “granite kitchen countertop” from their interior descriptions.

Cheers.

joe
Guest
joe

@ torq # 37

I went on a bit of a shopping spree for toyz when our dollar was at par. A strong dollar lately in Canada seems to
be a random accident that only happens when the moonlight through the third pillar at Stonehenge
illuminates….

Mister Obvious
Guest
Mister Obvious

@55 Whistler or bust?

“My point is if they take this track with gains they cannot fairly deny the same active trader who loses money from claiming the losses against income.”
—————————

Who said anything about it being fair?

Whistler or bust?
Guest
Whistler or bust?

I love it! WSR is finally being voted into oblivion.

Whistler or bust?
Guest
Whistler or bust?

CRA is treating capital gains as income inside actively traded TFSA’s. My point is if they take this track with gains they cannot fairly deny the same active trader who loses money from claiming the losses against income.

It has already been shown that the CRA can’t use this one way rule on active traders outside the TFSA’s. If they decide that trading is one’s job, capital gains are treated as income but losses are deductible against income as well. The CRA knows more traders lose money then make it so they are very hesitant to classify one as a professional trader.

This will surely go to court and be decided.

duck
Guest
duck

Canadian banks may not be in great shape due to the oil price collapse

http://www.marketwatch.com/story/falling-oil-threatens-canadas-bulletproof-banking-system-2014-12-12

bubble people
Guest
bubble people

Where ever the Chinese go they create bubble communities and insulate themselves from their neighbors. They are suspicious of non Chinese and consider chinese culture to be superior. 5000 year old culture they call it.

http://www.nbclosangeles.com/news/local/Monterey-Park-bilingual-chinese-latin-alphabet-city-council-217309971.html

Double entendre
Guest
Double entendre

Google the meaning of double entendre. We know what you intended. Always going on post after post about HAM.

Westside Realtor
Guest
Westside Realtor

Get a grip.

Google.its meaning.

Watchdog
Guest
Watchdog

“Chinks jn the Armour”

That’s racist.

Westside Realtor
Guest
Westside Realtor

Chinks jn the Armour:

We are sensing that HAM are seriously freaked out by the BoC comments this week.

I say, can we really blame them?

When the BoC speaks out a msg as they did, only a fool would not listen.

They heard the message and listings shall blossom as the herd chases this market down the drain.

30% off Vancouver sfh prices in three years? Stranger things have happened.

WSR

patriotz
Member

@47: “They cannot view gains as business income and losses as capital losses.”

TFSA losses aren’t viewed as losses, period. So it’s worse.

Whistler or bust?
Guest
Whistler or bust?

If CRA taxes gains in a TFSA for active traders then surely losses should be tax deductible for the same active traders?

I am quite sure for every person who has turned their TFSA into $150K+ 10 reduced them to zero aggressively trading. (In fact likely more)

They cannot view gains as business income and losses as capital losses. This will certainly be challenged in court.

space889
Guest
space889

Garth covered this TSFA thing in a blog post. Basically if CRA thinks you are running a daytrading/portfolio management business using your TSFA, it will get taxed as income.

Shut It Down Already
Guest
Shut It Down Already

Dave, if you’re trading heavily in your TFSA then the CRA could decide that the gains within are income. The burden would then be on you to prove otherwise. It happens.

Don’t assume that TFSAs are completely tax free.

homelss history
Guest
homelss history

http://www.chpc.biz/history-readings/private-sector-loans

A Ripley repost from the previous thread. He is a National treasure and should be considered for An Order Of Canada award.

Take a look at the Canada GDP chart with and without energy. Fantastic work. That’s your job ‘history’ going bye bye to locust land back in 2000, at the Head and Shoulder top.

i will never forget this
.. canadian and transnational debt pigs

chinoria
Guest
chinoria
history
Guest
history

@Marco

Debt levels at extreme nose bleed levels. But, you gotta have debt in this country to own wealth. The mailing address doesnt hurt either, that way you wont miss receiving your stock investment proxies. Try trading stocks when your homeless, very difficult, and i should know.

ostritch
Member
ostritch

cbm999,

You say she was there in kits owning property in the 80s… now everyone here will tell you she wasn’t. Even if she comes on here and posts her experience herself it won’t help. They’ll tell her she is full of BS and vote her into oblivion. But in the meantime, WSR, who has been getting phone calls but no listings from HAM for the last 6 months get voted up all the way.

@39
Guest
@39

FFS sonny what happened in the past 40 years CANNOT happen in the next 40 years. It is impossible. Your comparing a period when mortgage rates when from 20% to 3%, when down payments went from 20% to 5%, etc, etc. The trend will reverse in the coming years and so will the result on housing prices. At minimum even if nothing changes you CANNOT get the same return without falling interest rates and easing of credit which is impossible.

Did your aunty not explain that part to you?

cbm999
Guest
cbm999
Hey guys I wasn’t trolling, but the info I got about this was from my aunt who lived in kits in the early 80s (this is before I was born). She told me that her assessment never dropped….just flattened out and then in the late 80s she sold her house in kits for about 350k and moved to west van and bought a place for $500k and her house is now worth over $1.8M seems like a pretty good return to me! She must know something. She was on my case at a family event last week as to why I still rent and I should buy something (I live in kits now and pay $1,800 in rent…..which you can get a LOT of a mortgage for). I think there is some wisdom to her words…..I mean she was there… Read more »